October 23, 2018 / 11:04 AM / in a month

REFILE-UTC beats profit estimates on airplane boom

(Refiles to add dropped word “on” in headline)

Oct 23 (Reuters) - United Technologies Corp reported a better-than-expected quarterly profit on Tuesday as the industrial conglomerate benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing and Airbus.

The maker of Pratt & Whitney aircraft engines and Carrier air conditioners said net income attributable to shareholders fell to $1.24 billion, or $1.54 per share, in the second quarter ended Sept. 30, from $1.33 billion, or $1.67 per share, a year earlier.

On an adjusted basis, the company earned $1.93 per share, beating analysts’ average estimate of $1.81 per share, according to Refinitiv.

Net sales rose 9.6 percent to $16.51 billion. (Reporting by Ankit Ajmera in Bengaluru Editing by Saumyadeb Chakrabarty)

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